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Commercial Mortgage Loans, Subordinate Loans and Other Lending Assets, Net - Schedule of Activity Relating to Loan Portfolio (Details) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Principal Balance      
Principal value, beginning balance $ 7,134,992    
New loan fundings 2,183,157 $ 955,328  
Principal value, ending balance 8,342,902    
Specific CECL Allowance      
Specific provision for loan loss, beginning (30,836)    
Specific provision for loan loss, ending (39,257) (342,500)  
Carry Value, Net      
Payments to Fund Commercial Mortgage Loans 2,183,157 955,328  
Realized loss on investment (7,436) (128,191)  
General CECL allowance (39,257)   $ (30,836)
Carrying value, net 8,303,645   $ 7,145,356
Commercial Mortgage and Subordinated Portfolio Segment      
Principal Balance      
Principal value, beginning balance 7,550,410    
New loan fundings 2,183,157    
Add-on loan fundings 701,538    
Loan repayments and sale (2,057,725)    
Gain (loss) on foreign currency translation 353,903    
Realized loss on investment (7,436)    
Amortization of fees 4,785    
Principal value, ending balance 8,728,632    
Deferred Fees/Other Items      
Deferred fees/other items, beginning (31,718)    
Gain (loss) on foreign currency translation (1,329)    
Deferred fees and other items (36,912)    
Amortization of fees 19,229    
Deferred fees/other items, ending (50,730)    
Specific CECL Allowance      
Specific provision for loan loss, beginning (342,500) $ (193,000)  
Specific provision for loan loss, ending (335,000)    
Carry Value, Net      
Carrying value, beginning balance 7,176,192    
Payments to Fund Commercial Mortgage Loans 2,183,157    
Add-on loan fundings 701,538    
Loan repayments (2,057,725)    
Gain (loss) on foreign currency translation 352,574    
Realized loss on investment (7,436)    
Decrease in Specific CECL Allowance 7,500    
Deferred fees and other items (36,912)    
Amortization of fees 24,014    
Carrying value, ending balance $ 8,342,902